WAM Microcap’s IPO opens
Wilson Asset Management’s (WAM)’s Microcap Limited’s initial public offering (IPO) opened today, launching its $154 million capital raising.
WAM Microcap would offer shareholders risk-adjusted returns derived from a portfolio of undervalued growth companies listed on the Australian Stock Exchange (ASX) with a market capitalisation of less than $300 million.
WAM’s chairman, Geoff Wilson, said: “We have a strong record of identifying micro-cap companies, delivered over almost 20 years”.
“It is extremely important that the investment team continues to identify undervalued micro-cap companies that demonstrate significant growth potential.
“WAM Microcap will provide the investment team with the optimal structure to continue this rigorous and disciplined process.”
AUTHOR
Oksana Patron
Recommended for you
Despite ASIC concerns about private credit funds being accessed via the advised channel, there are questions regarding how high its usage actually is among financial advisers.
Challenger has looked to the superannuation industry for its appointment of a group chief investment officer, a newly-created role.
Perpetual has confirmed it has entered into an exclusivity agreement with a US private equity firm to progress discussions regarding the sale of its wealth management division.
Paradice Investment Management has become the latest fund manager to launch an active ETF version of its managed fund, placing greater emphasis on retail distribution.
